COVID-19: Subsidised Interest Rates Scheme Announced

The Maltese Government has just announced another measure in response to the COVID-19 pandemic so as to continue to aid businesses survive this crisis.

Essentially through this measure, companies which resort to a loan to finance the current costs due to the COVID-19 outbreak will benefit from a 2.5% subsidy on interest rates for the initial two years of the loan. This measure is not automatic, and one shall enquire for eligibility with the participating banks. In collaboration with the Malta Development Bank, the banks participating in this measure are HSBC, Bank of Valletta, APS Bank, Med Bank, BNF Bank, Lombard Bank, Isola Bank and FCM Bank.

If you require further detail in relation to this update, please contact Dr Celia Mifsud by email at celia.mifsud@dfadvocates.com who will be happy to assist you.

Photo: Danica O. Kus Photography